German Software's Cloud-Based Revenue Surges, Lifting Share Price

FRANKFURT—Shares in SAP SE jumped as much as 5% on Thursday after the software company said revenue from cloud applications rose rapidly in the second quarter, despite reporting a drop in profit.

The German company—which supplies businesses with applications for processes such as accounting and managing customer relations—reported a 23% fall in net profit from a year earlier to €557 million ($753 million), after it booked €289...